Question
You are a branch manager of Bank A and your debate partner is a branch manager of bank B. A potential customer Mr. Brown would
You are a branch manager of Bank A and your debate partner is a branch manager of bank B. A potential customer Mr. Brown would like to make a mortgage of $200 000 to buy a new house. He agrees to repay the loan by making equal monthly payments of S1100 to $1500 for at most 30 years. The two banks offer a different mortgage plan or the customer. Bank A: A monthly loan repay of $1200 of the first 24 months and a monthly repay of $1500 of the rest months. The annuity of the mortgage is 5%/a Bank A also offer their customers a bonus invest plan of $10000 with an annuity of 4.8%/ Bank B: A monthly repay of $1300. Customers can choose to pay more mortgages at the end of each month. The annuity of bank B is increase over time with an annual increase rate of 5%. The initial annuity is 3.5%. Bank B offer a bonus invest plan: invest of $1000 at the end of each 4-month period in an annuity he earns 3. 0%/a compounded semi-annually for the next 20 years In this task, you and your group partner will debate with each other to defense the advantage of the mortgage plan of your bank In the debate you should use information below to let your audience believe your plan is better
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